Arturo Announces Seed Series Close and Spin-out from American Family Insurance

CHICAGO & MADISON, Wis.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/deeplearning?src=hash” target=”_blank”gt;#deeplearninglt;/agt;–Arturo, an artificial intelligence (AI) and deep-learning property
analytics start-up, announced today the close of Seed Series
Transaction, with lead investor and Arturo co-developer American Family
Insurance.

Following the close of the transaction, Madison-based American Family
Insurance will remain a customer as well as an investor in Arturo.

Arturo grew out of investment and more than three years of research by
American Family Insurance on the application of artificial intelligence
(AI) and deep learning to satellite, aerial, drone, and ground-level
imagery to accurately assess physical property characteristics for
residential and commercial properties.

Arturo’s AI-powered analytics generate detailed property information
often in under five seconds. It enables a variety of businesses that
insure, lend, invest, or manage residential or commercial properties to
make more informed decisions and better manage risk with the most up to
date information available.

What’s most compelling about Arturo AI, is that it was created from
within an insurance company with product development experts and claims
and underwriting professionals giving feedback as the technology was
built. That work behind-the-scenes, in a test-and-learn environment with
American Family and several leading insuretech startups, distinguishes
it from similar companies.

“Building an AI analytics company directly inside your ideal customer
and immediately next to the highest value problems that can generate
significant value is the dream for any CEO,” said John-Isaac Clark, CEO
of Arturo. “We’re incredibly excited to share with the industry what our
fantastic team has been working on with our stealth-mode customers and
the real value Arturo is enabling.”

American Family’s Data Science and Analytics Lab identified an
opportunity to make Arturo a viable business entity by bringing the
technology to a broader market and a greater number of businesses.

“American Family is committed to customer-focused innovation,” said
Peter Gunder, American Family Insurance chief business development
officer. “We’re thrilled to see the speed and simplicity Arturo’s
capabilities can provide consumers in the insurance space and adjacent
areas of lending, property management and securities.”

About Arturo

Arturo is a deep learning spin-out from American Family Insurance
relentlessly committed to delivering highly accurate structured data
observations and predictions for residential and commercial properties
for use in the Property & Casualty (P&C) Insurance, Reinsurance,
Lending, and Securities markets.

Leveraging the latest satellite, aerial, and ground-level imagery, as
well as unique proprietary data sources, Arturo’s deep learning models
provide differentiated property data unparalleled by any other provider
– on-demand and in near-real-time. To learn more about Arturo, Inc.,
visit: www.arturo.ai
or follow on Twitter @arturo_ai

Contacts

Arturo
John-Isaac Clark, 720-745-0667
[email protected]

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